Spain's Seur to invest EUR 270 million by 2010
Seur, partly owned by France’s GeoPost (La Poste), is to invest EUR 270 million in new technology and a new corporate image over the next three years.
President Manuel Valle told the Cinco Días business newspaper in Spain that the company’s vehicles, franchises, uniforms would be given a brand new look; over EUR 70 million would be invested in IT systems and another EUR 50 million improving mail technology.
Seur would grow by about 10 pct this year, said Valle, having had a strong first four months of the year (EUR 200 million of revenues from January to end April). “The image we want to create is one that is modern and trustworthy. And technology is one of the pillars of our business,” he is quoted as saying by the newspaper.
Seur has 85 franchises in Spain and 300 other sales points.
Earlier this year, GeoPost, La Poste’s international express subsidiary, raised its stake in Spain’s Seur group to almost 20 pct through their joint venture, Seur-GeoPost, buying Seur’s Santander franchise. It owns 60 pct of the joint venture.
